Many people are really into the credit card rewards game.
We decided to round up a few of the best credit cards for earning rewards.
We’ll assume you’re paying off your monthly balance and not overspending just to earn rewards.
However, if you need help in this area, you should readthis postinstead.
Cash Back Cards
Cash back cards are pretty straightforward.
They give you a percentage of cash back on everything you spend.
This percentage is usually somewhere between one and five percent.
Credit Karma suggests checking the average approved score for the card you’re interested in.
Credit.com has a great tool for checking the credit level of various cards.
Percentage and bonus:Ideally, you want a card that offers a high percentage of cash back.
One percent is pretty standard.
Some cards also offer a sign-up bonus.
Check out the details of the rewards program before you pick.
Unlimited cash back: Some rewards cards will actually limit the amount of rewards you could earn each year.
see to it to see if the card you’re interested in has a cap.
Rewards redemption: verify it’s simple to redeem your cash.
Most programs simply let you deposit the cash into your account online.
Cash Back Cards to Consider
Chase Freedom: This card is a favorite atNerdWallet.
Earns 5% cash back on certain purchases and 1% back on other purchases.
There is a cap of $1,500 spent every quarter.
Plus, there’s no annual fee.
Earns 1.5% cash back on all purchases, without a cap.
you’re able to then use these points to pay for travel.
He says that some expenses, like rental cars and hotels are pretty straightforward.
This equals $460 in reimbursable travel.
It has an annual fee of $89, but they waive it the first year.
CapitalOne Venture Rewards: Barrett says this offers the same perk as the Barclaycard.
Barrett says these are the most broadly valuable and useful cards.
Of course, you want to confirm the card you pick is compatible with your frequent flyer program.
In that case, ensure to pick a program with an airline you’d be interested in flying with.
You’ll have to weigh whether or not the extra cost is worth what you’re earning in points.
Chase has 11 transfer partners, so they’re very flexible.
“you’re free to build entire vacations just with these Chase points,” Barrett tells us.
Waived the first year.
They offer up to 50,000 bonus points throughout the year.
Each card that falls under this program has different fees.
The popular Amex Green Card has a fee of $95 that’s waived the first year.
Co-Branded Cards
Co-branded cards are attached to specific hotel or airline programs.
The card is linked to your frequent flyer or frequent guest program.
Again, pick a card that’s compatible with your frequent flyer program.
Here’s a personal example of what I mean.
Years ago, I signed up for a co-branded card that only worked with “Airline X.”
Not being an experienced traveler, I signed up for Airline X’s frequent flyer program.
But I felt obligated to use them because I’d earned some points.
Pick carefully, as you don’t want to feel stuck with a program.
The annual fee of $95 is waived the first year, too.
British Airways Visa: You get 50,000 in points after spending $2,000 in the first three months.
You earn 2.5 miles for every dollar spent at British Airways.
For other purchases, you get 1.25 points per dollar spent.
They have an annual fee of $95.
But it’s not just the annual fee you want to look out for.
No Fee Cards to Consider
Discover It Chrome: you could earn between 1-2% cash back.
No annual fee, no foreign transaction fee.
But there’s a 3% fee for balance transfers.
Barclaycard Arrival World MasterCard:The Simple Dollarrecommends this as the “Best No Fee Rewards Card.”
No annual fee, no foreign transaction fee, but there is a balance transfer fee.
Or maybe you have a crazy commute and spend a ton of money in gas each month.
You might consider a rewards card that offers a high percentage of cash back for gas purchases.
It does have an annual cap of $6,000.
One year of Amazon prime if you sign up with the card and make that same spending requirement.
Barclaycard Rewards MasterCard:If you don’t like fees, this is a decent alternative.
But the percentage is even higher for gas3%.
There’s a $1,500 limit per quarter, but no annual fee.
Dining
DiscoverIt Chrome: You get 2% cash back on restaurants and gas stations every quarter.
There’s a $1,000 cap per quarter, though.
So you only get 2% cash back on up to $1,000.
No annual fee, no foreign transaction fee.
Of course, ensure to read all the fine print and know what you’re signing up for.
Also, you should pay off your balances each month and learn how to use these programs responsibly.
Rewards are great, but when they come at too high a price, they’re not really rewarding.
